GW&K Investment Management LLC Purchases 10,945 Shares of TD SYNNEX Corporation $SNX

GW&K Investment Management LLC boosted its position in shares of TD SYNNEX Corporation (NYSE:SNX) by 7.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 155,734 shares of the business services provider’s stock after purchasing an additional 10,945 shares during the quarter. GW&K Investment Management LLC’s holdings in TD SYNNEX were worth $23,396,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in SNX. Concentric Capital Strategies LP bought a new stake in shares of TD SYNNEX in the 3rd quarter valued at about $18,036,000. Envestnet Asset Management Inc. increased its stake in shares of TD SYNNEX by 11.1% in the 3rd quarter. Envestnet Asset Management Inc. now owns 82,977 shares of the business services provider’s stock valued at $13,587,000 after acquiring an additional 8,264 shares during the last quarter. Fieldview Capital Management LLC bought a new stake in shares of TD SYNNEX in the 3rd quarter valued at about $1,318,000. Citigroup Inc. increased its stake in shares of TD SYNNEX by 12.0% in the 3rd quarter. Citigroup Inc. now owns 83,103 shares of the business services provider’s stock valued at $13,608,000 after acquiring an additional 8,914 shares during the last quarter. Finally, Algert Global LLC bought a new stake in shares of TD SYNNEX in the 3rd quarter valued at about $7,140,000. 84.00% of the stock is owned by institutional investors.

Insider Activity at TD SYNNEX

In related news, insider Miriam Anne Murphy sold 3,025 shares of the business’s stock in a transaction that occurred on Thursday, April 9th. The stock was sold at an average price of $200.14, for a total value of $605,423.50. Following the completion of the transaction, the insider directly owned 10,820 shares in the company, valued at approximately $2,165,514.80. The trade was a 21.85% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO David Gregory Jordan sold 3,225 shares of the company’s stock in a transaction that occurred on Monday, April 6th. The stock was sold at an average price of $189.46, for a total value of $611,008.50. Following the transaction, the chief financial officer directly owned 14,035 shares of the company’s stock, valued at approximately $2,659,071.10. This trade represents a 18.68% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 21,250 shares of company stock worth $4,935,282. 0.70% of the stock is owned by company insiders.

TD SYNNEX Price Performance

Shares of SNX opened at $268.84 on Thursday. The company has a debt-to-equity ratio of 0.41, a quick ratio of 0.71 and a current ratio of 1.22. The stock has a 50 day simple moving average of $228.89 and a 200 day simple moving average of $181.52. TD SYNNEX Corporation has a 52-week low of $122.96 and a 52-week high of $286.25. The firm has a market capitalization of $21.61 billion, a PE ratio of 22.35, a P/E/G ratio of 1.18 and a beta of 1.43.

TD SYNNEX (NYSE:SNX) last issued its quarterly earnings data on Tuesday, March 31st. The business services provider reported $4.73 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.24 by $1.49. TD SYNNEX had a return on equity of 14.03% and a net margin of 1.52%.The business had revenue of $17.16 billion during the quarter, compared to analyst estimates of $15.59 billion. During the same period in the previous year, the firm earned $2.80 EPS. TD SYNNEX’s quarterly revenue was up 18.1% compared to the same quarter last year. Sell-side analysts predict that TD SYNNEX Corporation will post 15.88 EPS for the current fiscal year.

TD SYNNEX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, April 29th. Investors of record on Wednesday, April 15th were given a $0.48 dividend. The ex-dividend date was Wednesday, April 15th. This represents a $1.92 annualized dividend and a dividend yield of 0.7%. TD SYNNEX’s payout ratio is currently 15.96%.

Wall Street Analyst Weigh In

SNX has been the subject of a number of recent analyst reports. Morgan Stanley upped their price target on TD SYNNEX from $172.00 to $174.00 and gave the company an “overweight” rating in a research note on Friday, March 20th. Zacks Research cut TD SYNNEX from a “strong-buy” rating to a “hold” rating in a research note on Monday, June 1st. Barclays upped their price target on TD SYNNEX from $166.00 to $237.00 and gave the company an “equal weight” rating in a research note on Friday, May 29th. The Goldman Sachs Group upped their price target on TD SYNNEX from $180.00 to $205.00 and gave the company a “buy” rating in a research note on Thursday, April 2nd. Finally, Royal Bank Of Canada upped their price target on TD SYNNEX from $250.00 to $315.00 and gave the company an “outperform” rating in a research note on Wednesday. Nine equities research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $223.60.

About TD SYNNEX

TD SYNNEX (NYSE: SNX) is a leading global distributor and solutions aggregator for the information technology industry. Formed in September 2021 through the merger of Tech Data and SYNNEX Corporation, the company provides a comprehensive range of products, services and solutions that span hardware, software, cloud, mobility, security and data center technologies. TD SYNNEX partners with vendors, resellers and system integrators to design, deploy and support IT infrastructures across diverse market segments, including commercial enterprises, public sector organizations and retail operations.

The company’s core business activities include the distribution of technology products from manufacturers such as servers, storage, networking equipment and peripherals, as well as the resale and provisioning of software licenses and cloud-based solutions.